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Azerbaijan: New Monetary & Financial Statements Introduced for Banks |
| Source: |
http://www.news.az/ |
| Source Date: |
Wednesday, January 01, 2014 |
| Focus: |
ICT for MDGs
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| Country: |
Azerbaijan |
| Created: |
Jan 06, 2014 |
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Elman Rustamov, the chairman of the Central Bank of Azerbaijan, endorsed the Instruction on composition and presentation of monetary and financial statements.
The Instruction, put into force since 27 December, implies specification of some parameters. Now, loans of up to AZN 5,000 relate to micro-loans, loans for up to 360 days to short-term loans, and loans for the period of up to 360 days to long-term loans.
The banks are required to report on expenditures of customers related to such parameters as: fee for loan registration; charge for opening of a loan account; payment for loan giving in the form of cash; payment for registration of mortgage; insurance costs; costs for valuation of collateral; other payments for loan approval. The Instruction contains a new form of monetary and financial statements.
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Azerbaijan: New Monetary & Financial Statements Introduced for Banks Elman Rustamov the chairman of the Central Bank of Azerbaijan endorsed the Instruction on composition and presentation of monetary and financial statements
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